Loy Krathong festival to generate 6.9 billion baht tourism revenue
Thailand’s Loy Krathong festival is set to boost the economy, with an expected 6.9 billion baht in tourism revenue from 1.9 million domestic trips, as reported by the Tourism Authority of Thailand (TAT). The northern region is forecasted to be the most popular destination, drawing the highest number of tourists.
TAT Governor Thapanee Kiatphaibool projected a 9% increase in tourist numbers compared to last year, while tourism revenue is expected to rise by 12%. In the northern provinces, domestic trips are anticipated to reach 568,740, marking a 7% growth year-on-year, with revenue expected to hit 2.5 billion baht, a 9% increase.
In the central and western regions, 380,440 trips are anticipated, potentially generating 797 million baht. The highlight of the festivities is the Amazing Night of Lights: Loy Krathong Festival, a four-day event from November 13 to 16 in Bangkok. This event is projected to bring 1.37 billion baht to the capital from 330,450 local trips, with hotel occupancy rates expected to reach 72%.
The eastern and northeastern regions are also expected to see significant increases in domestic travel.
“The eastern provinces are predicted to earn 1.12 billion baht, an increase of 22%, while the Northeast is estimated to generate 582 million baht.”
The South, however, is projected to have the lowest revenue, at 561 million baht from 148,850 local trips.
Among the provinces, the five most visited during the Loy Krathong festival, known for their unique celebrations, include Sukhothai, Tak, Chiang Mai, Samut Songkhram, and Roi Et. These areas are expected to attract approximately 330,400 local trips, generating over 1.3 billion baht in revenue.
Chiang Mai and Sukhothai are anticipated to lead the way, with 147,330 and 87,330 trips, respectively.
“Chiang Mai is expected to fully recover from recent flooding, with hotel occupancy rates soaring to 87% during this period.”
The cooler weather has positively impacted tourism sentiment in the North and Northeast, encouraging visits during the Loy Krathong events.
Nevertheless, challenges remain, such as high household debt levels and recurring PM2.5 pollution, which could potentially impact travel plans. Despite these concerns, the TAT remains optimistic about the festival’s ability to draw tourists and boost regional economies across the country, reported Bangkok Post.
Frequently Asked Questions
Here are some common questions asked about this news
Why is the northern region of Thailand becoming a top destination during Loy Krathong?
The North’s unique celebrations and recent weather improvements are attracting tourists, boosting the local economy.
How might high household debt impact travel plans during the Loy Krathong festival?
Financial constraints could limit domestic travel spending, affecting regional tourism revenue expectations.
What if PM2.5 pollution levels rise during the festival period?
Increased pollution could deter tourists, challenging the projected economic boost from Loy Krathong celebrations.
What role does the “Amazing Night of Lights” play in Bangkok’s tourism revenue during Loy Krathong?
This highlight event significantly attracts tourists, contributing to Bangkok’s economy with increased hotel occupancy and spending.
How does the cooler weather influence tourism sentiment in Northern and Northeastern Thailand?
Cooler temperatures enhance the appeal of outdoor festivities, encouraging higher tourist turnout in these regions.
